That model of development is what led to Eric Raymond’s seminal The Cathedral and the Bazaar essay.

“Cathedral” refers to development behind closed doors, where you just get a release and a source dump to go with it.

“Bazaar” refers to development done in the open, where you have constant access to the bleeding edge.

At the time of the essay, GCC and Emacs were ESR’s examples of Cathedral-style development, and Linux was the premiere example of the Bazaar style.

The Cathedral style has become a lot less common over the years, but it’s still how e.g. SQLite operates, I think? E.g. Google definitely operates like that with AOSP, but that's arguably more a fruit of them being maliciously compliant with their Open Source promises.